DBR

IREN
2026-06-01 13:00:50

Bitcoin Miner IREN Closes $36.5 Billion Investment-Grade GPU Financing for Microsoft AI Cloud Deal

Bitcoin mining company IREN has completed a $36.5 billion investment-grade GPU financing, comprising $21 billion in U.S. private placement notes and a $15.5 billion delayed-draw term loan, with a blended cost of 6%. The financing received A and A(low) ratings from Fitch and DBRS respectively, marking the highest-rated publicly disclosed investment-grade GPU financing and the first GPU financing in the U.S. private placement market. The proceeds, secured by GPU assets and contract cash flows, will support the expansion of its AI Cloud capacity to 480MW by the end of 2026.

400
Bitcoin Miner IREN Closes $36.5 Billion Investment-Grade GPU Financing for Microsoft AI Cloud Deal